3 tips for selling properties during the pandemic
Feb 10, 2022
Here are some of the factors that contributed to the different selling conditions experienced by various realtors during the pandemic
In the past two years, realtors from different real estate market categories encountered different experiences selling properties. There are days when some realtors enjoy the perks of selling properties during a "hot" market, while some experience the opposite. The realtors who enjoyed the hot market perks are the ones who sold highly aspired homes from the countryside/farm town. In contrast, the ones who suffered from the cold market are the realtors from the international market and those who sell apartments and condominiums in places like Silicon Valley and Manhattan. The realtors from these markets even hire influencers to promote their listings.
How did they reach that point? Here are some of the factors that contributed to the different selling conditions experienced by various realtors during the pandemic:
- "Hot" Market: Rising rents, work-from-home setup and the urge to live in a more spacious home, the romanticism of life in the countryside, and the fad of buying houses for different reasons.
- Cold Market: Pandemic Restrictions, tough competition against highly aspired locations (off the beaten path areas), and all the reasons indicated on the hot market.
Which market have you experienced since the onset of the pandemic?
Whether you have been part of the hot or cold market, we would like you to be reminded of one thing:
The current condition of the real estate market is just one thing.
Don't just depend on the market behavior. There are more ways to stretch your capacity to earn more commissions. Here are three tips for selling properties to help you generate more sales during the pandemic:
1. Stay informed with the latest…
Did you know some home buyers who purchased properties during the pandemic expressed regret and frustration in their recent NY times interview? How does knowing this fact impact you, a realtor? Do you feel worried that somehow this could affect the buying decision of some homebuyers? If you think it does, what should be your action point? Did it prompt you to create strategies to make your customers feel they will not experience the same regrets? Do you feel relieved now? See how this train of thought made you feel optimistic about being updated? That's how staying informed works. It allows you to see the possible issues you may encounter, keeps you from being complacent, lets you set up on-point solutions, supports your thriving business, and ultimately, gives you peace of mind (on the business aspect).
Considering all these benefits, it is essential to be updated with the latest information about real estate. Let us help you specify which things you should be informed about:
Latest rules and regulations
- What are the current rules for marketing your properties onsite or online?
- Are there new laws and policies that need to be passed on to your team?
- How can new regulations impact your business?
- Are there new strategies employed to help your business transact faster?
- What are the innovations in selling properties?
- Can these new procedures apply to your business?
Market trends and industry components
- What is the current market trend? How do you deal with it?
- What is your current market positioning?
- How is your competitor doing? What are they doing on social media?
- Where do home sellers often list their properties?
There are still many things that you should be updated with, and they all depend on the type of real estate property you are in. List them and be updated about them. Subscribe to newsletters, read online news, and research. Make reading and conducting research a habit, and apply what you've learned. Later on, you'll see how staying informed gets you more properties sold during this pandemic and even after it (🙏).
2. Provide solutions or recommendations
This tip is another thing that we would like you to keep in mind when selling properties during this pandemic and even beyond. It is also highly connected with the first tip. You need to be updated with the latest information to provide solutions and recommendations that will surely fit your client's needs. We'll share with you some solutions you can provide. Make sure you go the extra mile in providing them with these things:
Assistance on how legal procedures on home buying are done
You're not obligated to assist clients in their legal matters, but if you do offer such a service, it will be greatly appreciated. Being able to help them with any legal issues they may face can provide them with tremendous relief. Incorporating this into your process will not only save time and effort but can also help speed up the homebuying cycle, enabling a faster sale. And by the way, satisfied clients could be your repeat customers, too; if not, they could still help you by referring you to their families and friends.
Partner with many financial institutions as much as possible
Exercise due caution when carrying out this task. As we all remember, the great financial crisis of 2008 had a devastating effect on the global economy. We want our readers to stay well away from such economic disasters and not face a situation similar to what happened back in 2008. Thus, we need to explain what this service actually entails. Either they don't have a credit score yet (first timers), don't have the patience to endure the long underwriting process, or have limited options for availing mortgage (few financial firms). If this is the case (provided that they have a stable source of income), we advise you to somehow vouch for them by referring them to your financial partners, who can offer more leniency in providing mortgages to your home buyers. Practicing this kind of help during this pandemic can help you sell more properties–just assess your buyers carefully. Be an expert on it.
Connect with all the potential suppliers in case a problem arises during the house inspection
According to some realtors, even sure buyers could back out because of unexpected house property issues during the inspection period. Thus, as a realtor, you must double-check the property before the inspection day. However, this doesn't mean you should feel secure already. After your inspection, we still advise you to keep your supplier's contact updated in case new problems arise during your client's inspection. By doing this, you can reassure your clients that there won't be so much hassle in buying that property by addressing their homebuying concerns right away.
3. Maximize your online platforms
Results of the 2018 survey published by Statista in 2021 indicated that 93 percent of home buyers used online websites when searching for a home in the United States. This percentage went up by 4% in 2020, and considering the speed of technological advancement, the rate may even drive the remaining 3% to adopt the practice.
If you don't have a website or any social media account for your business, you should be creating one right now. If you already have one, maximize them to sell more properties during this pandemic and beyond. Here are some contents that you can create as a realtor:
Share your real estate expertise on social media. Here are some topics:
- Differences between modern and contemporary homes
- Home furnishings that could make a home extra elegant
- Do's and don'ts during home buying
- How to find the best home for your family
- Tips to ensure that the property is legally sold
Highly relatable newsletters
What is your favorite email besides the one that tells you your commission has been sent? Is it from the most popular real estate business in your town? Is it something about the breakthroughs and other inspiring stories from other realtors? Or simply about an email from your favorite health coaches like P.D. Mangan or your favorite excerpts from the works of C.S. Lewis? Those newsletters have probably excited you, taught you, and even guided you in your major decisions. The same can happen once you create highly relatable content for your newsletters. Your readers may feel excited, feel informed, and be guided. Once they've felt those emotions, their trust in you and your business may develop and eventually influence their decision to buy from your listings later. Do you want to know how your newsletter can become more appealing? Continue reading to discover.
Engaging blogs and social media posts
Highly relatable blogs, social media captions, and images are things that you should be sharing on your online platforms from time to time. These things add value to your business as they drive your audience to unconsciously promote your listings/business by simply reacting, commenting, or sharing your posts with their friends, followers, and subscribers, who could later be your customers. To help you create engaging content, you could get the help of content creators who are knowledgeable with SEO and pair it with highly structured floor plans and beautiful home renders. You may include these assets in your newsletters and see how they could double your website visit.
Do you know where to get these marketing assets? We at HomeRender, provide them. Here are some works from our amazing artists which you may find very useful for your business:
2D Floor Plans
3D Renderings - Exterior
3D Renderings - Interior
We also create marketing brochures where you can showcase these renders and floor plans and your competitive offers or even reasonable ones that could help you sell your properties during the pandemic. Here are sample Marketing brochures:
Do you want these brochures posted on your website without image quality or readability problems? Worry no more! At HomeRender, we made sure that our process of creating marketing brochures reflects your standard and aspirations to ensure you sell your property during this pandemic.
Staying informed, Providing solutions or recommendations, and maximizing your online platforms are some tips we can provide to help you sell your property during this pandemic. Do you feel empowered after learning these tips? Do you think you are more than ready to market properties? That's how we want our partners to feel and achieve whenever they subscribe to our services.
This article was last updated on Dec 8, 2023